Base: The New Power of Ethereum Layer 2 Networks

Base is an Ethereum Layer 2 network built on the OP Stack. It aims to provide developers and users with a secure, efficient, and low-cost blockchain environment.

The Main Advantages of Base

1. Security: Based on the underlying security mechanism of Ethereum.
2. High performance and low fees: Provides complete EVM compatibility while significantly reducing transaction costs.
3. Strong support: Able to seamlessly connect to a large number of verified users and assets.
4. Open Source Philosophy: Committed to achieving a decentralized, permissionless open platform.

The Birth Background of Base

In recent years, the team has gradually recognized the importance of on-chain native products. To bring more users into the crypto economy, it is necessary to make the interaction of dapps simpler, cheaper, and safer. The birth of Base is precisely to meet this demand and provide developers with a better building environment.

Core Principles of Base

1. Connecting Bridges: Committed to connecting the Ethereum ecosystem with other blockchain networks.
2. Decentralization: Gradually achieve the goal of complete decentralization.
3. Open Source Spirit: Built on the MIT-licensed OP Stack, encouraging community contributions.
4. Open Ecology: Welcome broad community participation to jointly build a strong ecosystem.

Project Progress

• February 2023: Launched the testnet and the first NFT project
• March 2023: Several well-known projects announced their participation in the Base ecosystem.
• Future Plans: Launch fault proofers, upgrade decentralized smart contracts, promote superchain development

The Vision of Base

Base is not just a standalone Layer 2 network; its goal is to build a multi-chain interoperable superchain ecosystem around Ethereum in conjunction with projects like Optimism. This ecosystem will have higher interoperability and lower transaction fees.

Thinking

The launch of Base reflects a new trend in the cryptocurrency industry. Unlike the early competition among public chains against Ethereum, more projects are now choosing to revolve around Ethereum to support its development. At the same time, Base also embodies the efforts of traditional crypto companies to transform into on-chain businesses.

However, Base also faces challenges. How to remain competitive without issuing tokens, and how to achieve decentralization in a strict regulatory environment are both issues that need to be addressed. It will be worth keeping an eye on how Base balances these factors in the future.